If 2000 introduced many new brokers to their first bear market, 2001 gave them their first prolonged taste of desperation. The investing public, spooked by the bear, seems to have gone into hiding. It’s not surprising then that broker production is off. Just how much off, we wanted to know. Last month, Registered Rep. issued a survey via e-mail to take the pulse of various financial intermediaries, from professionals who call themselves brokers to branch managers and even CEOs.
We included wirehouses in our survey, as well as small independent broker/dealers. The idea was to get a sense of what brokers were producing and earning, but also where they worked, and what their businesses looked like. How were they generating their gross? What did they expect in 2002? We also wanted to set a baseline so that we can compare salaries and other factors in subsequent years.
Readers should regard this survey not so much as an exercise in trivial pursuit, but as a benchmark to compare their performance with their peers.
Registered
Rep's 2002 Broker Compensation Trends Report:
